Is Your Renewal Option Enforceable?
![](https://www.williamsparker.com/wp-content/uploads/2020/06/main_insight_categories_real_estate.jpg)
Renewal options in a lease provide a tenant with crucial flexibility by ensuring the tenant can remain in a desirable location. But what happens when the lease stipulates the rent during the renewal term will be at “fair market value” or “at the then-prevailing rate for comparable commercial office properties”…